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How To Grow Your Business In 2016

At this stage of the year it’s right for you to take a look at your business and ask yourself some important questions.

What state is your business in and are there ways in which you can grow your business in 2016?

Can you improve the product, improve your service, improve the customer experience.

The ability to continually innovate and improve plays a big part in the development of any successful business.

Standing still is not really an option.

The trouble is once your business is up and running, especially if it’s going well, it’s very easy to stop thinking about it in this way and just focus on running it.

The following questions are the kind of thing you should be continually asking yourself.

• Have I got a plan for my business? Do I and my staff know what our objectives are and where we’re going?
• What additional products or services can I offer to my existing customers?  Cross selling and up selling are the fastest and most cost effective ways to grow your business.
• Do I really understand the problems my customers face and is the business set up to solve them?
• Do I communicate with my customers often enough – telling them about new products, special offers, developments in the industry or the company or just thanking them for their business?
• How often do I ask my clients for their feedback, regarding the service they receive from me and what additional services they would like me to offer?
• How can I improve the quality of my products or services, so that they are of even more value to my customers?
• How is my business differentiated from my competitors or is it just another “me too” business with no obvious reason for customers to choose me over the competition?
• What about my pricing? Have I priced my products to be the same as everybody else or is there a definite rationale behind my pricing whether high or low?
• How good is my customer service? Am I really delighting my customers at every stage of the process or are there areas where I could improve the customer experience?
• How watertight are my sales processes? When a lead or enquiry comes in, am I confident that every one is handled as well as it should be and that none are falling through the cracks?
• Am I getting as many referrals as I should and do I have a process in place to regularly generate referrals?
• Have I got clear marketing objectives and a marketing plan to deliver them?
• Do I get enough leads and enquiries via my website or blog? If not, how can I increase this, so my site becomes a lead generating machine for my business?
• Am I limiting my business by trying to do my own marketing? Should I bring in an expert who can deliver the new business that I need?

It’s this last question that I’m particularly interested in.

If you’re either not doing any marketing because you’re not sure what to do or are doing the marketing yourself but not getting the results, you are in fact inadvertently sabotaging your business.

Luckily I’ve got a solution for you.

I will do your marketing for you and deliver you boat loads of new customers while you focus on all the other important questions.

If you want to discuss this further give me a shout on 01483 200387 or email  mikejennings@bda.me.uk

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Dramatically Improve Your Customer Relationships

Like all business owners you want to dramatically improve your customer relationships.

Now we all know that people do business with people they know, like and trust.

We want to forge strong bonds that keep our customers coming back for more so that when our competitors whisper in our clients’ ears, they don’t listen because they’re so happy with the relationship they have with us.

One way to do this is to add some “Magic Moments” into your relationship.

So what is a “Magic Moment”

Magic moments are when you do small, unexpected and fun things out of the blue to surprise your clients.

These don’t need to be large or expensive.

They can be small, almost trivial things but they demonstrate an amount of thought and care for your customers.

It could be as small as sending a birthday card on the appropriate day, enclosing a box of chocolates with an order or taking your customer out to lunch.

No substitute for good service

Now we mustn’t confuse Magic Moments and your basic levels of service. Magic Moments will not cover up for poor service.

But the thing is that your customers take good service as a given and while fundamental, service is unlikely to light people up and make them smile in the way a Magic Moment will.

For literally a few pence you can see results out of all proportion to the cost and effort involved.  By surprising people and giving them that little lift your business can reap real benefits:

  • Increased customer loyalty
  • Higher levels of repeat orders
  • Larger numbers of referrals
  • Glowing testimonials

The problem with Magic Moments

While all business owners would like the benefits of Magic Moments there are a couple of problems.

  1. Finding the right Magic Moment for your customer. Whatever you do for your Magic Moment is has got to be relevant to the customer. Do the wrong thing and all your effort will be wasted.
  2. Spending the time – while the idea is great you will have to commit an amount of time to thinking what to do and then actually doing it.
  3. What to do. This is probably the biggest issue. We all want to create “Magic Moments” but having the ideas to create the magic isn’t easy.

So here are a few ideas:

  • Thank you letters or cards – after you’ve done a piece of work or delivered an order, hand write a card or letter, not an email, to say thank you. How often do you received a hand written letter these days?
  • Easter chocolates – around Easter send a small packet of Easter eggs with an order or just send an egg to the relevant people in the business.
  • Ice creams – if you visit your client’s offices, in the summer take an ice cream for the people in the office
  • Birthday cards – if you can find out the birthdays of the key people within the business, sending a birthday card elevates the relationship from entirely business to personal.
  • Car wash – I heard about a company that invited their clients to their offices for a presentation and washed and valeted their cars during the presentation.

The thing about all these Magic Moments is that they are unexpected and fun and will differentiate you massively from other companies.

While the cost of you will be small the impact on your customer relationships will be huge.

 

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6 Simple Marketing Tips To Grow Your Business

When times are tough we all need more business. But if you’re not sure how to go about it, the following six simple marketing tips to grow your business will ensure that you win and retain loads of new customers.

To be honest it’s not rocket science – it comes down to the kind of advice your mum gave you about how to interact with people.

  1. Be Visible

How often have you heard yourself say “ I didn’t know that business was there”. If you don’t know about  certain businesses, you can be sure there are plenty who don’t know about you.

So are you visible to prospective customers if they decide to go looking?

  • Make sure your website looks good. If it doesn’t, upgrade it. Don’t let your website let you down.
  • Have a blog, that you update regularly. I blog once a week. www.bda.me.uk/blog
  • Participate in social media – let people find you on Twitter, Facebook and LinkedIn.
  1. Be Credible

When your prospects go and look at your public presence, will they feel motivated to get in touch?

  • Have compelling testimonials on your website. There’s nothing as persuasive as other customers singing your praises.
  • Make sure your phone is always professionally answered by a human being. If your office isn’t always manned, use a telephone answering service. How sad would it be to generate interest and then lose the opportunity because you don’t answer the phone?
  1. Be Memorable

Your objective is to ensure that when your target audience need what you sell, that they think of you.

To generate the awareness the following model works well :

  • You need to construct a database. Ideally you will already have a list of contacts – people who have enquired before, people who have completed a sign up form on your website, names you’ve generated from networking, trade shows etc.
  • If you haven’t got your own list, you can buy names and contact details from list brokers but these will never be as good or as receptive as your own list and you could get a reputation as a spammer.
  • Email your list regularly with valuable and useful information. This should be an on-going activity as response will increase over time as recipients grow to trust you.
  • Analyse response to your emails, tracking who opens them and who clicks on your links.
  • Have a process to follow up respondents. This may be a particular sequence of emails or you might prefer to take the bull by the horns and phone them.
  1. Be Personal

The more you can tailor your emails to the specific recipients, the more response you will get. Remember it’s about them and not about you.

All your readers are interested in is what’s in it for them so make sure you give them plenty of personal content.

  1. Be Consistent

The secret to success will be developing the trust of your readers so that they come to think of you as an expert in your field. You’re not going to do this with one or two emails. You must commit to sending regular emails at a given time each week, fortnight, month or whatever regularity you decide on.

To achieve this you will have to set aside regular time in your diary to do the work.

  1. Be Persistent

This kind of marketing requires a medium/long term commitment. As I said you have to commit to doing this over an extended period of time. As we all know, everyone will be at a different stage in their decision making process. No response today doesn’t mean that they won’t respond in six months time.

Persistence is even more vital in the follow up. It’s too easy to give up after one or two unsuccessful contacts. You need to continue trying until you get either a “yes” or some useful information about their buying intentions.

If you manage to take these six simple marketing tips on board, I can guarantee that you will pick up more customers and more business.

 

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How To Generate Leads Using LinkedIn

I bet you’re on LinkedIn but the question is “Are you using it?”

Almost all business people are on LinkedIn but virtually no one uses it proactively or effectively.

Two or three weeks ago I wrote a piece about about how to use social media to actually generate business. In that post I was referring more to Facebook and Twitter. Those are the social platforms with the largest memberships and the greatest awareness, but they’re used predominantly for social networking and not business networking.

LinkedIn is different.

Everyone on LinkedIn is there in a business context but as I said so few people actually use it effectively.

Half the profiles you look at haven’t been filled in completely.

People think they must be on LinkedIn – they set up an account, fill in their profile in a half hearted manner and then do nothing more.

This is a great waste.

LinkedIn has more than 350 million members, all business people, all available for you to connect with and it’s all free.

Two ways to generate business

The first thing you need to do is create a business page that clearly explains and demonstrates the benefits you offer.

While you’re at it get some of your clients to give you testimonials. On LinkedIn they have to be genuine, they can’t be made up and social proof is always the most persuasive copy.

But even when you have your company page, the strategy is still going to be to drive people to your website, where your marketing funnel is waiting to convert visitors into clients.

So how do we get prospects to connect with us on LinkedIn?

The best opportunity is with groups.

Remember you can join up to 50 groups.

Your strategy with groups is not to join the groups related to your own industry because otherwise you will be interacting with your competitors. Instead join the groups which your prospects are members of.

Now there are two strategies for your communication with groups.

  1. Commenting on other people’s posts is one way to raise your profile, establish your credibility and demonstrate your expertise. It is important to be viewed as a credible and valuable member of  the group.
  2. The other route is to make postings of your own –posting teaser copy which links to your blog. These posts of course need to be interesting and valuable to the group members and not just an advertisement for your business. On your blog page you must make sure your lead magnet is prominently displayed. If visitors like your blog, there is a good chance they will be interested in your lead magnet and once they’ve subscribed to that they’re into your marketing funnel and into your process.

The second strategy is for you to identify the prospects you want to start a conversation with and contact them directly.

The advanced search button allows you to find people against an extensive list of criteria.

Once you’ve identified your prospects you have to send them an invitation to connect.

Please avoid the standard “I’d like to connect with you” message. I’m much more likely to connect with someone if they have demonstrated a genuine benefit to me of connecting.

Try and show how you can potentially add value – give me a reason to want to connect with you. Once you’ve established a connection, you must remember that you’re networking. It’s about establishing a relationship over time and not about trying to sell right up front.

If you’d like any more advice or help with your LinkedIn networking, give me a call on 01483 200387, email me on mikejennings@bda.me.uk

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You Can Do It Fast Or You Can Do It Slow

So you want more customers.

In that case you’ll need more leads and more prospects.

OK so how are you going to get them?

Well there’s two ways – a quick way and a slow way.

Or I could phrase that another way – there’s the way that involves spending some money and there’s the way without spending money.

So it really depends on how quickly you want to do it.

The slow way

If you’re not in a hurry you can rely on your website appearing high on the organic listings on Google, so that when your prospects are searching for a solution to their problem, up you pop.

So we’re talking about SEO or search engine optimisation.

The problem with SEO is that not only does it take a considerable length of time to achieve those rankings, but Google also regularly changes its search algorithms which means that one day you can be ranking well and the next you’ve disappeared into the back of cyber space. I know I’m talking from painful personal experience.

But now the question is how do you get onto the first page of Google and it does have to be the first page because anything else will not deliver you any meaningful volume.  Not only do you want to be on the first page, but the top half of the first page.

The answer is simply to have the best website in your area of business.

That’s it – just have lots of high quality content, delivering masses of value to your visitors. On top of that you also want lots of high quality people linking to the site.

These characteristics will tell Google that yours is an authoritative site which is worthy of a high ranking because you offer the best solution to their searchers queries.

But that’s a long term strategy.

You probably want traffic and customers right now.

So what’s the other option?

The fast way

The fast way to generate traffic is to buy it.

That’s right you have a marketing budget and you go out and advertise in a range of ways.

The thing now is to ensure you spend your money wisely.

Designing the ad is just one part of the process. There are plenty of other aspects you must pay attention to if you’re going to get a return on your investment.

Remember the way your sales funnel works online is to drive people to a landing page where they give you their contact details in return for a report or white paper.

Below is a list of things you’re going to have to think about.

  1. What are you going to promote? You must have some offer or report of sufficient value to motivate people to give you their contact details. That’s the first thing you have to think about.
  2. Your landing page is the next thing on your list. Sending people to some generic, badly designed page will just lead you to wasting your money. Take great care writing and designing a killer landing page and you’ll get boat loads of sign ups.
  3. Once you’ve got the sign ups, what are you going to do now. You need a system in place which builds trust and credibility, making you the number one choice when they’re ready to buy.
  4. Where are you going to run your ads. With the proliferation of pay per click media, there are all sorts of options these days. Not all of them are necessarily on line. Don’t forget our old friend off line.
  5. Once all this is in place, you need to write and design your ads and get the campaign live.

Blimey there’s lots to do, so you’d better get busy.

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The Ultimate Marketing Weapon

99% of your website visitors will leave without making any kind of contact.

This is a criminal waste.

These people are interested in whatever it is that you sell. They must be – they’ve already made the choice to visit your website once.

They are prime prospects.

Wouldn’t it be fantastic if you could track these people and have another go at selling them the idea of doing business with you?

Well what do you know – you can.

There’s a relatively new innovation called Remarketing, which not surprisingly Google are leading on, where you can track your website visitors and re-present your marketing messages to them.

This is one of the coolest developments in marketing in recent times and is something all business owners should be using.

How does it work?

Someone visits your website and a cookie (just a small snippet of code) is placed in their browser. They then leave your site and wend their way around the internet. Inevitably they will land at some stage on a site owned by or partnered with the Google Display network.

At that stage the cookie is read, which triggers your remarketing ad to be displayed.

So now they suddenly are presented with your ad – promoting a business or service that they’ve already shown interest in.

So imagine the scenario.

Someone who’s in the market for what you sell visits your website. Being one of the 99%, they’re not sufficiently grabbed by your website so after a while they leave and head off into the ether.

Say they now, for example, visit the site of a national newspaper who happens to be a Google advertising partner. At this stage Google reads the snippet of code, realises that they’ve been to your website and so serves up your ad.

Just think what impact this might have on your visitor. He’s on the site of a large and prestigious daily newspaper and suddenly he sees your ad. Seeing you in such exalted company, he now thinks “I’d better reassess my view of these people, there’s obviously more to them than I realised. Perhaps I should have another look.

The way it works means that your website visitors will see your ads pretty regularly and on some high profile partner sites. This gives your business a sense of scale. It can appear that you’re all over the internet which can cause people to change the way they see your business. Suddenly you seem much larger and more worthy of consideration than they had formerly thought.

The other great thing about remarketing is that you can set it up with amazing precision. In the example above, even if the daily newspaper is a national site, you can set up your remarketing campaign to only show your ads to people within a set geographical area.

So how much does remarketing cost?

Unlike traditional advertising where you pay for the space irrespective of how many people see or respond to your advertising, remarketing works on a pay per click model so you only pay when someone clicks on your ad and goes to your website. There’s no wastage or inaccurate targeting – you only pay when a serious potential customer responds to your ad.

You also are in complete control of where you send them. You can send them to a standard page of your website or to a specially constructed landing page – you’re in charge.

Don’t you think it’s time you started remarketing?
Mike Jennings
Marketing Consulting Expert, Lead Generation, Business Development, Marketing Strategy, Get More Clients, Increase Revenue

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The Only Two Principles You Need To Worry About

You won’t be surprised to hear that basic human principles don’t change much at all, and this includes marketing principles.

Over the last ten years we’ve seen the Internet come charging over the horizon and make itself comfortably at home in the business community. More recently, we’ve seen a financial meltdown which we’re only now recovering from.

But even so, things are now pretty much as they’ve always been.

Marketing principles don’t change and that’s because we’re still human and we’re still motivated by the same things, driven by the same emotions and the same hopes and fears as we’ve always been.

So, let’s look at the simple challenge facing your business.

Growing your business is a simple process you can break down into two parts:

1. Generating qualified leads.
2. Converting them to paying customers.

It’s that simple and it’ll always be that simple.

So, when people tell you that internet marketing is different – they’re wrong.
It’s the same as any other kind of marketing: the style and the delivery mechanisms might have changed but the substance will be the same.

And how do you get the highly qualified leads?

Well this is where the difference in style comes in.

Online, you might want to use AdWords, natural search, banner advertising, stuff like that.

One seriously underused strategy is to use offline media to drive people online.

The last few years has been a great time to be doing it because the recession meant that businesses haven’t been advertising as much as normal with the result that ad space has been cheap.

So once you’ve got your qualified leads, what do you do with them?

You want to turn them into paying customers.

Conventional wisdom tells us to convert the qualified leads into sales by “selling” them.

While this might work occasionally, it’s fraught with peril, because if you fail to sell them that first time you’ve lost them. Probably for good.

A better solution in many cases is to begin a relationship with them.

Get their details – name and email address at a bare minimum, but the Holy Grail is a postal address as well – and then start sending them interesting material including but not exclusively sales material. Emails, a paper newsletter, direct mail, postcards… the list is limited only by your imagination.

How do you get them to give you their details?

Simple: offer something of value like a free report or a white paper, something of value that they will exchange their contact details for. There are no real rules, other than it really needs to be something useful and with a high perceived value to your prospect.

So you can now start marketing to them until they buy, they die or they tell you to stop.

Sounds easy doesn’t it ?

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Attractive and Repellent At The Same Time

Your marketing message needs to be attractive and repellent at the same time.

Yes you heard right.

But surely you want to attract as many people as possible?

That’s true you do but at the same time there are some people you’re better off without and your marketing message should tell those people that you’re really not the right supplier for them.

If this is sounding a bit left field for you, let’s start somewhere easy.

Your marketing messages should be written specifically to attract your ideal customer 

I’m sure you know who your ideal customer is. The more detail you have about your him or her, the better. Something I always do with my clients is to create an avatar for their deal customer.

Are they male or female, how old are they, where do they live, how much do they earn, what do they do, what publications do they read, do they have children, what do they do in their spare time etc etc.  I even give them a name.

Only when you’ve created this detailed picture can you identify what their issues are and therefore what you can do to solve their issues and therefore become their supplier of choice

But what about the second part?

Have you identified the customers you really don’t want?

Who are the customers who you want to avoid? Those that complain endlessly? Those that continually try to beat you up on price? Those you wish you didn’t have, but continue to keep  because you don’t have anyone to replace them?

The interesting thing about your marketing message is that it can be used to BOTH, attract the type of customers you want, AND, repel those who don’t want.

This isn’t hard. Let me give you an example.

For most of us, we need to communicate with our prospects before they actually become customers. Your marketing materials therefore have to contain compelling reasons why the prospect should talk to you.

Now whether that’s your website, email marketing, sales letters, brochures or whatever, the text will be full of the benefits that you deliver and how you can solve their problems. The more you can provide real tangible benefits during the conversation, the greater the likelihood is that they’ll actually become a customer.

Repelling those you don’t want.

Which brings us to the second part of the equation.

Now I’m not suggesting you should be rude in any way. Everyone should be treated with equal respect but you can detail the characteristics of those you don’t want to have contact with..

You might do it as follows: “I’m happy to offer this service, I think it will be very helpful and valuable to you, BUT the reality is that unfortunately I can’t talk to everyone. So in order to take me up on this offer you need to…”

…and that’s where you start to list the criteria that will eliminate those you don’t want to do business with.

I’ll show you what I mean.

In my world, I can’t really help people who have an idea for a business, but haven’t actually started trading. At this stage they’re looking for free advice. Nothing inherently wrong with that, we’ve all been there, but they’re not really the people I want to invest my time in. So, I put in language saying, “You need to be up and running already. You don’t have to be huge, but you do need to have some momentum.”

That’s an easy one. It’s a rather obvious group I don’t want to attract more of and I’m sure you’ve got a similar one.

But to make this really work, you want to dig down and think about what frustrates you about certain types of customers, so you avoid getting more of them.

For me, I get a lot of people who are very sceptical about marketing. They’ve never really done any marketing. Their business comes from word of mouth and referrals.

These people tend to need a lot of convincing that marketing will work for them.  They’re also very likely to bail out if the marketing doesn’t immediately generate spectacular results, reassuring themselves that, as they already knew, marketing doesn’t work.

Whereas, people who have already done some marketing and now want to do more are ideal for me. They understand what marketing can do and they’re committed to working with me to get the best possible results.

So, how do I repel the group I don’t want, and attract the one I do? It’s not hard. Following on from the wording above I will say “Ideally you are doing some marketing already, but recognise that you need some help”

This will therefore resonate with people who know that marketing is the way to build their business and are going to get on board with the activities I put in place.

One of the great things about good marketing is that it just doesn’t get you new business-if you do it right, it gets you precisely the type of business you want

 

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Are You Committing This Hideous Sin?

When most people think about growing their business, they immediately think about how they can acquire new customers.

Now of course new customers are vital to the long term health of your business but in fact the real money lies in your existing customers.

Focusing too much on winning new customers is a huge mistake.

You see while the un-rich believe the most important marketing is in attracting new customers, the exceptionally successful and rich business owner realises marketing to and nurturing their  existing customers  is paramount.

So why is this so important?

  1. It’s becoming more and more expensive to acquire new customers.
    It used to be that when acquiring a new customer, you could make a profit or at least break even. It’s estimated that winning a new customer costs five times as much as keeping an existing one.  Plus the probability of selling to an existing customer is 60-70% while the probability of selling to a new prospect is only 5-20%.
  2. The majority of customers leave businesses because of neglect.
    There are lots of reasons that we all lose customers and sometimes we screw up and genuinely deserve to lose a customer.
    But the biggest reason for customers leaving is that they feel unappreciated, unimportant, or taken for granted. Something over 70% of customers leave their existing supplier for this reason. If you feel that your existing supplier isn’t concerned about you, when someone else whispers in your ear and offers you a better deal, you have no qualms about moving your business elsewhere.

It stands to reason that if you strategically engineer your business to retain, nurture and grow the value of your existing customers, you will grow your business and your profits.

How do you do this?

Make your customer feel important and valued

Find ways to express your gratitude by acknowledging them and thanking them in your newsletters, by creating a reward program and making special offers specifically for existing customers.. Also, treat them as the valued and valuable commodity they are. Invest time in them and make them feel that their business is important to you.

View retention as a marketing function and a profit center

Don’t think of money spent on existing customers as an expense. Instead view it as an investment.

Have a lost customer plan in place. 

Track your customer’s activity. When one goes missing, send that customer a letter with a great offer or pick up the phone to find out what’s going on. You need to be persistent. Losing customers will be very damaging to your business.

Develop new products and services for your existing customers. 

Your existing customers may have moved beyond your initial offering. Work hard to do more business with them by coming up with new offerings that will appeal to their wants, needs and desires.

Your existing customers are your most important asset. If you want to grow your business and profits, neglecting them is one marketing sin you don’t want to commit.

 

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The Power Of Premium Products

When the subject of premium products comes up most people think they only relate to exclusive product sectors and top end businesses but that’s not the case.

premium-quality-golden-seal-products-services-31970092

Premium products can be found in all  types of businesses.

Now in some instances they may be dressed up with exclusive sounding titles such as “Platinum service”,” Gold Standard” “Premier Club” etc but the fact is that premium products can be found in the most everyday sorts of businesses but they can have a remarkable impact on sales and more importantly on margin. The great thing is they often entail no extra effort.

So what is a premium product?

Quite simply it is your standard product which you’ve added value to in some way. It may be that the packaging and presentation of the product has been upgraded, you may have upgraded the functionality in some way or perhaps it has more high quality ingredients in it.

A good example of premium products is currently being demonstrated by the supermarkets. They all have premium ranges these days. Sainsbury’s call it “Taste The Difference”, Tesco call their range “Finest” while Asda call their’s “Extra Special”.

Or take a typical restaurant. Everybody has a specials menu and the items on the specials menu are always more expensive. The ingredients may be a bit more fancy but the price will be a lot more fancy.

Now I can’t claim to know the figures but while the cost price will be a little bit more, the margin will be significantly higher than on the standard dishes.

Now considering that we’ve been going through tough economic times for the last few years, you might think that there is no place for premium products.

But you’d be wrong.

The fact is that something like 20% of consumers will regularly pay more for what they perceive to be a superior product. All you have to do is work out how you can add value to and upgrade your standard product so that you can offer it as a premium product.

A little while back I was working with a removals company.

Now you might think that there’s no scope for a premium product in the removals business but there is. We created the “Reassurance Plus” product by using more robust packing cases, by having a more comprehensive insurance plan and by enhancing the unpacking service in the new house. The price of “Reassurance Plus” is around 26% more than the standard product and the margin nearly  40% more. And yes somewhere in the region of 20% of customers take it up.

My wife is a chiropractor. Chiropractors have recently twigged that they can charge more for appointments at certain times of the day. Early morning, lunch time and in the evening are outside of the standard opening hours but are more convenient for people who work during the day. While the service is exactly the same, a premium price can be charged for these times of day.

The other thing about premium products is that it’s not a hard sell. You simply make the customer aware that you have a premium product and the difference between it and the standard product and then leave them to choose.

Another useful technique is to create three levels of service –  gold, silver and bronze versions of your product. The thing here is to make sure that your existing product is the bronze level. Human nature being what it is the majority of people when faced with a choice between three options will go for the middle or silver option. So if your existing product is the bronze level you will get a massive uplift as the majority opt for the silver version and a few will actually go the whole way and buy the gold version.

So look closely at your own business and decide how you can add value to your product or service and offer gold and silver versions.

Every time someone buys anything other than the basic version, you’re making more money. You may well be very surprised at the difference it makes to your turnover and more importantly your profit.